作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
, ]6 |+ J5 J4 `5 d9 Mfailed to make the first payment and now wishes to settle her obligations with a
2 Y+ _( Q# l6 ^; {! z7 ]' m( u$ tsingle payment four months from now. What payment should Thelma be willing to
accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
8 r# s/ g+ U4 s2 UCash Principal        X        -750                  -950       
$ }! x5 H' [0 w/ s# h5 z4 u) ~+ rCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
% s! n; |  U9 `9 uPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
4 Y9 }& t5 i+ s$ o& O: X
* N3 u) M: K( B& tthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
( i" Z1 Q6 u* C! ^. KConclusion        X        =        1729.8               
                                       
0 n$ W- C% s) m7 T) i5 E" R: U# i# vSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860

littledognancy

Finance 学得不好所以不知道做得对不对。。。看着办吧~ 也许有用。

linchan

对了，答案是$1856.32